Copper Mill Apartments

Copper Mill Apartments

Houston, TX

Copper Mill Apartments is located in a Houston sub-market experiencing robust occupancy and rental growth. Modest interior upgrades yielded strong upsides of $75 in rental price.

Property Description

Copper Mill Apartments is a stable, Class B property in the Copperfield sub-market of Houston. The 234 unit property is adjacent to the Copperwood Village Shopping Centre which features more than 62 retailers and restaurants, such as Target, Wal-Mart, Home Depot, Rue 21, Best Buy, AT&T and Starbucks. The proximity to these shops and businesses, in addition to being convenient, offers appealing rental options to employees working at the shopping center stores. The property had a 97% occupancy at the time of acquisition, and the sub-market experienced 4.6% occupancy growth in 2013. In the 12 months prior to acquisition, annual rental rates in the area had increased 4.8%. The high-growth rate in the sub-market, coupled with the opportunity to increase value through renovations provided a sound investment opportunity with strong upside potential.

© 2017 Windmill Investments